Insider Buying: Titan Machinery Inc. (NASDAQ:TITN) CFO Purchases 658 Shares of Stock

Titan Machinery Inc. (NASDAQ:TITN) CFO Robert Larsen bought 658 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was acquired at an average cost of $15.20 per share, for a total transaction of $10,001.60. Following the completion of the purchase, the chief financial officer now directly owns 37,330 shares in the company, valued at approximately $567,416. This represents a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Titan Machinery Trading Down 1.9 %

Shares of NASDAQ:TITN traded down $0.29 during mid-day trading on Monday, reaching $14.71. 145,363 shares of the company were exchanged, compared to its average volume of 263,216. The firm has a market cap of $340.18 million, a price-to-earnings ratio of 10.97 and a beta of 1.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $24.31. The firm’s 50-day simple moving average is $17.05 and its 200 day simple moving average is $15.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its stake in Titan Machinery by 0.5% during the 4th quarter. American Century Companies Inc. now owns 1,229,637 shares of the company’s stock worth $17,375,000 after acquiring an additional 5,938 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Titan Machinery by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company’s stock valued at $16,860,000 after purchasing an additional 4,955 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Titan Machinery by 2.0% in the fourth quarter. William Blair Investment Management LLC now owns 920,090 shares of the company’s stock valued at $13,001,000 after purchasing an additional 17,689 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Titan Machinery by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company’s stock worth $12,270,000 after buying an additional 48,445 shares during the period. Finally, Voss Capital LP lifted its holdings in Titan Machinery by 141.7% during the 4th quarter. Voss Capital LP now owns 684,459 shares of the company’s stock worth $9,671,000 after buying an additional 401,302 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Baird R W raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. Robert W. Baird lowered their price target on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, B. Riley assumed coverage on shares of Titan Machinery in a research report on Thursday, March 27th. They set a “neutral” rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Titan Machinery currently has a consensus rating of “Hold” and an average target price of $19.80.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.